CORNWALL – Facing an uphill battle of selling luxury condominiums in Cornwall, the owner of the Dominion Place plan is selling the site to a local construction company.
Bourgon Construction President Chris Markell said his company is in “final negotiations” to buy the site at Pitt and Second Streets, along with three other downtown development properties.
Terms of the deal have not been disclosed.
There is a previous relationship between Dominion Place developer Ron Chenier and Bourgon Construction as Bourgon was the construction firm working with Chenier on the condo project.
Chris Markell said they will conduct a study on the best possible use for the site but it will likely focus on “first-class office and community space.”
Chenier had an “exceptional vision,” but weak pre-sales of the large condos hampered the start of the project, Markell explained.
There are three other downtown properties included in the Bourgon deal, which will be prepared for redevelopment or sale, the company said.
The properties are at 26 First Street West (the Dominion Place sales office), 64 Pitt Street (the parking lot on the southwest corner of Pitt and First) and a parking lot on Third Street near the courthouse.
“We have confidence in downtown Cornwall as a business location, and we want to create developed space that meets the demand of the market,” Markell said.
Bourgon Construction is busy in the area this year building schools including Bridgewood Public School in Cornwall and the Kemptville Public School.